One segment that has soared high amid the COVID-19 pandemic is the online education section. With schools and colleges shut all over the world for a decent amount of time, the classes moved online and that's where platforms like Udemy, Udacity, Kahoot, Unacademy, and Byju's have done well to cover the market.
San Francisco-based Udemy is picking up close to $100 million as part of its Series F financing. The latest capital raise will take the valuation of the unicorn company to $3.32 billion. While the final confirmation is still awaited, as per Prime Unicorn Index, Udemy has filed paperwork for the same in Delaware.
Udemy was founded in 2010 by Eren Bali, Gagan Biyani, and Oktay Caglar as a marketplace platform that holds tons of video-based courses aimed at students and professionals. The courses range from learning programming to learning photography. Prior to this round, Udemy had picked up $50 million in the Series E round earlier in the year. The round was led by Benesse. Manhattan Venture Partners, Prosus & Naspers, Stripes, Norwest Venture Partners, Insight Partners. Learn Capital, MHS Capital, and Lightbank are a few of the other names that have infused funds in the firm.
With COVID-19 once again spreading its wings all over, the edutech sector will see a surge in users again and the capital raise will allow platforms like Udemy to continue enhancing the platform in order to provide a more suitable, easier to use the experience to the users.
The likes of Unacademy, Byju’s, the two Indian unicorns, in the segment have bagged financing recently and are going strong.
Image courtesy: Udemy